DENVER, June 19 CO-Teton-Energy-Corp
DENVER, June 19 /PRNewswire-FirstCall/ -- Teton Energy Corporation
("Teton" or the "Company") (Amex: TEC) announced today that it has closed the
private placement of $40 million in 10.75% Secured Convertible Debentures (the
"Debentures") due June 18, 2013 in accordance with its previously disclosed
terms. Proceeds of the Debentures will be used to repay indebtedness under
the Company's bank credit facility in order to open up additional availability
on the facility, for capital expenditures and other general corporate
purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities.
Company Description. Teton Energy Corporation is an independent oil and
gas exploration and production company focused on the acquisition, exploration
and development of North American properties. The Company's current operations
are concentrated in the prolific Rocky Mountain and Mid-continent regions of
the U.S. Teton has leasehold interests in the Central Kansas Uplift, the
eastern Denver-Julesburg Basin in Colorado, Kansas and Nebraska, the Piceance
Basin in western Colorado, the Williston Basin in North Dakota and the Big
Horn Basin in Wyoming. Teton is headquartered in Denver, Colorado and is
publicly traded on the American Stock Exchange under the ticker symbol "TEC".
For more information about Teton, please visit the Company's website at
http://www.teton-energy.com.
Forward-Looking Statements. This news release contains certain forward-
looking statements, including declarations regarding Teton's and its
subsidiaries' expectations, intentions, strategies and beliefs regarding the
future within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements contained
herein are based upon information available to Teton's management as of the
date hereof and actual results may vary based upon future events, both within
and without the control of Teton's management, including risks and
uncertainties that could cause actual results to differ materially including,
among other things, the impact that additional acquisitions may have on Teton
and its capital structure, exploration results, market conditions, oil and gas
price volatility, uncertainties inherent in oil and gas production operations
and estimating reserves, unexpected future capital expenditures, competition,
governmental regulations, and other factors discussed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2007, filed with the
Securities and Exchange Commission. Teton's disclosure reports are on file at
the Securities and Exchange Commission and can be viewed on Teton's website at
http://www.teton-energy.com. Copies are available without charge upon request
from the Company.
Company contact:
Ron Wirth
Director of Investor Relations & Administration
(303) 565-4600
rwirth@teton-energy.com
SOURCE Teton Energy Corporation
